USD/CNH: Bears push towards 7.2600 – DBS
Source Fxstreet
USD/CNH has also stabilized around 7.26-7.27 ahead of FOMC, DBS FX & credit strategist Chang Wei Liang notes.
USD/CNH to break below 7.26-7.27
“PBOC has maintained its stable RMB policy with CNY fixings being kept near 7.13, even after it eased monetary policy in the last week. The 1Y MLF rate was cut by 20bps last Thursday to 2.30%, following a 10bps LPR cut.”
“China PMI releases tomorrow may give little respite for the RMB as activity looks to stay sluggish. A more durable downshift in USD/CNH will depend on a broad USD reversal, with Fed guidance this week being front and centre.”
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Gold Price Trend Forecast: Why Did Gold Prices Fall After US CPI Cooled? Fed Chair Speech and Iran Situation Become Obstacles As of the Asian trading session on July 15, gold ( XAUUSD) prices fell back to fluctuate near $4,030, erasing nearly all of the gains driven by yesterday's positive CPI data. Looking at t
As of the Asian trading session on July 15, gold ( XAUUSD) prices fell back to fluctuate near $4,030, erasing nearly all of the gains driven by yesterday's positive CPI data. Looking at t
WTI rises as Trump's threats strikes on IranWest Texas Intermediate (WTI) oil price extends its gains for the third successive day, trading around $79.20 per barrel during the Asian hours on Wednesday. Crude oil prices have climbed following threats from US President Donald Trump regarding additional military strikes on Iran.
West Texas Intermediate (WTI) oil price extends its gains for the third successive day, trading around $79.20 per barrel during the Asian hours on Wednesday. Crude oil prices have climbed following threats from US President Donald Trump regarding additional military strikes on Iran.
As of the Asian session on July 14, gold ( XAUUSD) prices consolidated around the $4,000 mark, briefly slipping below $4,000 intraday to hit a low of $3,983.23. Looking at the market acti
WTI spikes amid escalating Middle East TensionsWest Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $79.60 per barrel during the Asian hours on Tuesday. Crude oil prices rise due to mounting supply anxieties following a sharp escalation of geopolitical hostilities in the Middle East.
West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $79.60 per barrel during the Asian hours on Tuesday. Crude oil prices rise due to mounting supply anxieties following a sharp escalation of geopolitical hostilities in the Middle East.
US June CPI Preview: Can Cooling Inflation Open Up Fed Rate Cut Expectations? How Will US Stocks, the Dollar, and Gold React?The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
The United States will release June Consumer Price Index (CPI) data this Tuesday, which is one of the most critical macroeconomic events in global financial markets this week. As US infla
Related Instrument
